MEA Reports 14.5% Increase in RevPAR for September 2014

According to data compiled by STR Global, hotels in the Middle East/Africa region reported positive performance during September 2014 when reported in U.S. dollars.

In September, in year-on-year comparisons, the region reported a 13.1% increase in occupancy to 65.5%, a 1.3% increase in ADR to US$145.12 and a 14.5% increase in RevPAR to US$94.99.

“All three sub-regions in September saw occupancy levels of 60% or above,” said Elizabeth Winkle, managing director of STR Global. “It is positive to see consistency in performance in spite of instability leading to uncertainty in several countries. Amongst the high performers, Saudi Arabia is one of the region's strongest in September as the country was gearing up for Hajj, which took place the first week in October. Cairo, whilst still in recovery mode, achieved occupancy levels of 51.8% with significant year-over-year growth of 107.5%.”

Highlights among the Middle East/Africa region’s key markets for September 2014 include (year-on-year comparisons, all currency in U.S. dollars):

Cairo, Egypt, reported the largest occupancy increase, jumping 107.5% to 51.8%. Beirut, Lebanon, followed with a 60.9% increase to 55.6%.

Jeddah, Saudi Arabia, recorded the largest ADR increase (+14.7% to US$269.52), followed by Cairo (+12.7% to US$107.86) and Muscat, Oman (+11.8% to US$205.72).

Four markets achieved double-digit or more RevPAR growth: Cairo (+133.9% to US$55.82); Beirut (+68.0% to US$82.99); Jeddah (+21.9% to US$216.34); and Doha, Qatar (+12.2% to US$127.50).

Lagos, Nigeria, experienced the largest decrease in all three key performance metrics. The market’s occupancy fell 35.4% to 36.8%; its ADR was down 11.3% to US$248.47; and its RevPAR decreased 42.7% to US$91.40.

Year-to-date 2014, when reported in U.S. dollars, the Middle East/Africa region’s occupancy increased 3.6% to 62.8%; ADR was up 1.9% to US$161.62; and RevPAR rose 5.7% to US$101.48.

“Year to date, MEA has achieved 5.7% RevPAR growth,” Ms. Winkle added. “2014 has proved to be occupancy driven, compared to 2013 when performance was more rate driven.”